Inverted Pin Bar
Look through Ghous's posts from a couple of months ago where he explains it.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi Adam,
You're all telling me that these sort of setups occur on these higher timeframes at a high enough frequency and with a high enough accuracy that, if I were so inclined, I could watch and profitably trade only D1 and W1 charts and never have to spend hours staring at a M5 chart ever again?
Precisely.
Not that you'll get a 100 great setups every month, but that you'll learn to be patient and learn to dissociate XXXX number of pips with consistent account growth.
What we (and higher time frame charts) emphasize upon is that...Ignored
DislikedNo....
Inverted Pin Bar
Look through Ghous's posts from a couple of months ago where he explains it.Ignored
DislikedYou're absolutely right, my trading (intrady) was horrible before discovering this thread and the knowledge within.
Now i only trade 2 diff. accounts, one daily PA and one weekly. (demo)
In one month now, on daily i got a win rate about 75% (still not picki enough!)
and on weekly, with only 12 trades ( 100% wins ) im up 10% on the account with another ~10% floating (all stop's @ BE)
The last 2 month completely changed the way i trade...i cant even believe it.
edit: anyone looking @ oil (weekly) ? theres a BEOB and i'd like to...Ignored
DislikedAnyone eyeing the Weekly Usd/Chf PB ?
A+? Probably not. Lets see how it breaks. (if she breaks)Ignored
DislikedSince the high of the pin is lower than the previous high would'nt that add to the bearish outlook of the setup or be an additional cfm.Ignored
DislikedIm watching this one too
My first target would be around 1.0350, massive restistance in this area, ppz, 23% fib of previous down move.
Move stop to BE fast.
but i would love to see it go up, and then retrace with a nice long
PB @ 1.095 - 1.1 (ppz and 50% fib area)Ignored
DislikedNice find Sir J.. Maybe the awaited dollar strength might just do the trick. However, If I am to play this I think I would rather prefer an entry on a retrace rather than on a break (reason: smaller stop). From weekly, find a good entry on H4 where from my chart I can see round number and fib confluence. What do you think?
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DislikedHi Adam,
::[WALL OF WISDOM]::
... winning comes before making money and making money comes before making pips.
cheers.
Ghous.Ignored
DislikedCAD/CHF DAILY TRADE
1) 2 day pinbar off round number 1.000 and swing high
2) Bearish divergence on RSI
Short Entry: 0.9880
SL : 0.9990
TP : 0.9790 (Took take profit early at 0.9813, however price did reached initial take profit)Ignored
DislikedHey Bro which broker do you use? because on my liteforex feed I had a big OB.
HunriIgnored
Dislikedi was going through the charts and saw a very interesting situation on gold note the daily DBHLC and the weekly PB (its true that the weekly pin dont have a big nose but it should do it ...
Attachment AttachmentIgnored
DislikedI wonder if ghous is looking at this IPB on the weekly Usd/Cad. It may be to small to quailfy, although looks good in structure. You have to love the Location . . . Weekly PPZ level at the 1.0300, very nice.
The 4 hour BUOB (also 8 hour BUOB) maybe giving us the hint with the 1.0250/1.0300 as our protection. Consolidation may be developing on the upside.Ignored
DislikedThanks ghous. You've been incredibly helpful. It's very much appreciated.
I have a bit of spare cash this paycheck, so I might pick up a couple of books that I've seen recommended around here.
The Candlestick Course - Steve Nison
Martin Pring on Price Patterns - Martin Pring
... I forgot how boring being single is, especially working a crappy weekend nightshift. So the books and all the studying should keep me occupied for a good while and make the weekends go by a bit faster.
- A.Ignored
DislikedLower time frames are very tradable, I find them to be better played off Daily and Weekly PPZs, Fibs, and other higher time frame confluenced levels.Ignored